Energy Preview: US crude inventories rise by 2.78 million barrels, says API data

The American Petroleum Institute (API) estimated that crude oil inventories in the United States increased by 2.780 million barrels in the week ending October 3. The figures come after three consecutive weeks of draws, including a 3.674 million barrel draw in the week ending September 26. Gasoline inventories fell by 1.245 million barrels in the week ending October 3, after gaining 1.3 million barrels in the week prior. Distillate inventories also fell in the reporting period, losing 1.822 million barrels following the week prior?s 3.003-million-barrel gain.

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